Cons:Live day trading room combined with multi-level marketing. Because everyone needs a trading room with a magical trading indicator, and magical soap.

Thanks for reading today’s review of iMarkets Live and FX Signals Live

It’s not too often that a Forex broker contacts me, asking that I write a review about a Forex trading program. Remarkably, this is exactly what has happened.

Generally speaking, Forex brokers could care less if a trading product is a scam. They are only concerned with trading volumes and opening new customer accounts.

You will never find a Forex broker shedding a tear over the losses of a customer. Unless those tears pool into a swamp, in which the Forex broker might actually drown.

Apparently, this is exactly what has happened. A Forex broker accepted hundreds of thousands of dollars in client deposits…via credit cards. Only to later discover that the credit card numbers were illegally obtained, and illegally charged by this so-called Forex and Futures trading educator named Chris Terry.

Who is Chris Terry?

Back in the 1990’s, a popular book was published titled, Market Wizards. It’s a famous book, written by Jack Schwager. Pretty much required reading material for all aspiring traders.

Essentially, the book is a collection of stories about supposedly famous traders. And how they made their fortunes trading the markets. It’s been quite some time since the book was published, but it was later discovered that Jack Schwager was hustled into believing that several of his “millionaire traders” were not actually very successful at trading.

In spite of this, the book is an excellent read. In particular, there is a chapter about a lady trader named Linda Raschke. Yes, Linda is a real trader. And a very good trader at that.

Wizards and Con Artists?

Long story short…after the book was published, Linda Raschke became the darling of the day trading educational scene. She eventually opened a day trading room, where hundreds of people paid a boatload of money to learn her supposed trading secrets.

Her business partner and trading room moderator was a guy named, Chris Terry. Another supposedly super-trader that made millions of dollars day trading.

Supposedly, $85 million or $185 million…the story has changed over the years.

A lot of my readers adore and admire Linda Rachke. Sorry to burst your bubble, my friends. But her live trading room was a financial disaster, and a lot of people were burned. Screen shot below confirms her partnership with Chris Terry.

Anyway, after the demise of Linda Raschke’s live day trading room. She went back to full-time trading, successfully managing a hedge fund, and being a good citizen. What about Chris Terry? He went into MLM or Multi Level Marketing.

But not just any Multi Level Marketing, he helped promote a company named Zeek Rewards (now defunct).

What in the heck is Zeek Rewards?

The company was organized as a multi-level marketing/pyramid type investment scheme. Essentially, a person would purchase shares of ‘stock’, along with a ‘business opportunity package’ that would attempt to sell the stock to next person down the pyramid.

The scheme was wildly successful. In total, the company sold $600 million dollars of ‘shares’.

Pyramid investment schemes are remarkably easy to sell and market. It relies upon the trust and friendship of a close acquaintance. They are essentially social viruses that prey upon our herd mentality.

All pyramid investment schemes eventually collapse. One of two things will eventually happen, either you run out of fools, or the authorities shut it down. In this case, the SEC shut this one down. You can read about the entire scheme here: SEC Shuts Down $600 Million Online Pyramid and Ponzi Scheme.

This scheme was shut down in August 2012. So what does Chris Terry do next? Just start another investment fraud.

iMarkets Live and FX Signals Live is launched

After Chris Terry ripped off customers in his fraudulent securities scheme named Zeek Rewards. Within a few months, he launched a brand new investment scheme named iMarkets Live and FX Signals Live.

What is iMarkets Live and FX Signals Live? Its just another Zeke Rewards! But with an interesting new twist. Essentially, it is a live trading room that delivers trading signals for Forex and Futures markets. You simply pay an upfront fee of $195, and $145 per month to be part of the live day trading room.

And the best part of this live day trading room is that the trades are ‘auto-traded’ by Chris Terry and his trading morons that manage the trading room.

How are people doing trading room and auto-trading signal service? Not so good. In fact, the situation has become so egregious that Forex brokers are contacting TradingSchools.Org, asking that we write something about this con artist.

Of course, Chris Terry would have you believe otherwise. In fact, his website heartily proclaims:

What if a master trader who’s made millions in the markets sat down with you and made live trades right in front of your eyes…would you sign up for that?

How the iMarkets Live and FX Signals Live fraud is executed

Step one. A fool signs up for the ‘live trading room’ and his supposed trading education begins.

Step two. The fool is recommended to open a trading account with a Forex and CFD (Contracts For Difference) broker in which Chris Terry receives a kick back on all trading volume.

Step three. The fool is lured into the auto trading program. Approximately half of the fools will randomly make money because the trading signals are binary.

Step four. The fool that is lucky enough to make money is pitched the pyramid scheme. The fool contacts his family and friends and tells them about these amazing trading signals.

Step five. The process begins anew. With a new fool.

This is the exact same business model of Zeke Rewards. As long as a greater fool exists…the scheme continues.

Wrapping things up

Truth be told, I didn’t even want to write this review. It’s a completely stupid and ridiculous scheme. At some point, you have to wonder–who would be foolish enough to fall for this stuff? But then I think about my own past history of running scams and hustles...and the words of PT Barnum come flooding back, “There is a sucker born every minute.”

FX Signals Live: Chris Terry pitching his BS to a room full of suckers. Sad.

Where was the real review of iMarkets Live? Have you used the Fusion Trader, SwipeTrades, IML Academy, IML TV, Harmonic Scanner, Daily Swing Trades, or FX Signals? I’ve made money from each of those products and services without being part of the MLM “scam” of signing people up. Sure Chris Terry has some shady past, but not every direct marketing company is a pyramid scheme. Look at Tesla, no commercials, yet they’re worth more than Ford. If people are looking for a get rich quick by duping their friends, I’d agree with this review, but the fact that nothing is… Read more »

Just to mention for the tradingschools webmaster, the link to Raschke’s site(s) on this page automatically attempts to force the browser to communicate over an untrusted certificate from the server “lindaraschke.net” along with some sort of popup. (not surprising coming from the lbr shamshow empire, imo)

Emmett, when I saw that you were finally going to a review of this course, I was really happy. I have had a co-worker, that I has been with iml for about 8months. He is more focused on the mlm side instead of the trading side. I wanted a review of the products that they are using by someone, like you, that goes in and get the real story. I was hoping that you would have done a review from the standpoint of using the tools yourself, to see if they really work. I appreciate the history lesson on Chris… Read more »

Why wasn’t my comment approved? Was it the repeated references to the other fufu MLM clown, previously featured on Trading Schools? I have been following this MLM-niche for the past year and made some observations that I thought were relevant.

There is some serious fufu-ness going on in this niche. People want answers, I was hoping my comment would spur some additional debate and research among the trading community.

No worries Farooq. I appreciate all comments. And I love the nasty and snarky comments.

This is a rough venue. People should be able to express themselves. Even the most offensive and vulgar trolls have a home here. Readers should be able to quickly mute and ignore the voices they do not enjoy, and attempt to extract value from the voices that have something of value.

Emmett – Could you seek clarification/further verification from the broker? Was it directly linked to Chris Terry or was it indirectly linked to Chris Terry. There are several of so-called “groups” that recruit for companies like IML and Kaizen/Kaizen Global (ran by Reza Mokhtarian). These groups make money by broker sign-ups and deals. I know of one who specifically tells people to fund a forex account using a credit card. This particular broker accepts the credit card and uses a front company for this purpose. It would be interesting why this broker is not strictly following any KYC or AML… Read more »

Linda Raschke I know for a fact is as dumb as a box of hammers. She was a regular on Top Step when my son had to listen to that garbage for his funded account. She is in the same camp as Woodie, Brooks, and Dalton. They been around long enough to have thousands of old farts who remember them and think they know what their doing because the been around and have grey hair…. This clown is nothing but a blow hard , who never has anything concrete to deliver and although I never personally been in his room,… Read more »

Emmett, I am impressed of your scalping numbers back in 2008. That is, you had more skills than just scamming OPM. I would be very grateful if you reviewed Jigsaw. It really is puzzling without an unbiased review.

I remember reading about LBR many years ago in the Market Wizards book. I am confused, was she ever profitable? I guess a trader does well then they sell out to hock their wares to the retail public. I ascertain that most of these popular traders that now are on book signing tour just don’t trade anymore because it is much easier to just sell to retail. I have to reread her history because I always wondered about her after she became a regular on the retail vending circuit. Can someone clear this up for me? was she the real… Read more »

Many of these great are complete fakes, but some made a lot of money on one lucky trade and just lost everything after that. But they ride that one lucky trade like there is no tomorrow and never mentioned that ever since they have done nothing but lose money. Like one person with a lucky copper trade. Some will know who I am talking about. Just think of the folks that made a fortune during the NASDAQ bubble but then lost it all. They make a fortune during the bubble write and book even thought the then lost it all.… Read more »

OK, where is your proof to back up your poorly written post? You say “some made a lot of money on one lucky trade and just lost everything after that” – put some names out there. Oh, you don’t have proof? Kind of like trading rooms that can’t show real track records, right? You spout nonsense, so let’s see you back it up with facts. My guess is you cannot, becuz you just say shi*%^ to sound knowledgeable.

Dtchum, You post is so stupid how can anyone take your seriously. You are the embodiment of a Troll!! In fact I can only draw 3 conclusions. 1) You are a child of 10 years old, 2) You lived in an Afghan cave all your life and never read a financial article in your life or 3) you are being willfully stupid and for god’s sake I hope it is number 3. Let’s say you are illiterate and never read a financial article in your entire life, even a complete imbecile would realize what I wrote was true. Did you… Read more »

drchump == jamesII == RobB III == smellypete == drchumpNO == Pete ==> and on and on. I am just going to leave it at that for the new readership to be aware of this guy flaps both sides of any issue just like the shills and shams and also uses alters showing the scammer-like disgusting lack of integrity, lack of respect for commenters who contribute the best to the ts comments,all in order to snipe out of spite and to try to rewrite the comment history. Good use of the Cyn baboon pic Rob.

DTChump IMO and his many alias are clearly associated with a vendor and will post anything to harass anyone that calls out these con artist TR, because they effect the number of suckers he is able to con. I cannot remember him ever making any informative post.

In fact his lost post was so stupid he is not only a shill but not a very intelligent shill.

I should mention again I agree completely that drchump flailing idiotically at you and other commenters who call out these scams, in effect hurts the readership’s waking up from the kool-aid and number of new dupes conned who are willing to give the shills “another chance” just because they believe the undermining spouted nonsense. To me, it just goes to show the depth of which gollumpiet is willing to sputter for the shills as drchump, both sides of his mouth , and the alters mainly out of childish trollspit-e, which long invalidates any credibility or trustworthiness in his posting. Take… Read more »

I agree RobB that drchump and drchumpno may have been vendor shills and perhaps still post once in a while, but gollum has all too often taken over their id’s to snipe with and the original vendor shills don’t care since the spotlight of tradingschools has long since passed from the reviews those shilled aliases were made. drchump posts now to be contrary to my assertion drchump=gollumpete in one of my posts yesterday. And the other new alter, smellypete posts again to attempt to marginalize the untrustworthy implication of using alter ids obviously including “pete” in the new alter name… Read more »

Wow, having lost all the arguments and now jumping to insane unrelated imaginary delusions gollumepiet. You’re just showing yourself as an idiot dipstick who doesn’t know proper English from your own imaginary trolling blabber. RobB was right “Mr.Willfully Stupid” imbecilic baboon. Stop pretending to be someone other than your own gollummy self.

I missed this one by Rob B about David Tepper. He is certainly the real deal with billions under management. Think about a successful hedge fund manager such as David Tepper, would he be talking about scalp trades to retail on a forum. That optic doesn’t sit well when you really let it sink in. You don’t need to go that far. A trader that earns millions trading the market would not go on a lecture circuit to sell services. The time spent pitching material would cost a successful trader a ton of money. It just doesn’t add up. I’m… Read more »

Exactly, an example that comes to my mind is Wasendorf of PFGBest in the episode of American Greed where he early correctly called out folks to stay out of the market before the 2008 collapse, and ripped off the guy who made “BestDirect” one of the pioneering earliest futures trading software for retailers. He rode that fame and early rep, until the truth was completely opposite where all his investments since, mostly failed, and his brokerage, the new mega office and his property was turned into a massive ponzi and literal cut and paste with shredders shown in his fed… Read more »

Despite the recent charade of smellypete here, I am still enjoying how we exposed James/JamesII and DrChump in the previous recent reviews, again as all alters of gollum petedetithb__ks. What is this like the 3rd or 4th time he’s used alters in disguise since the pagetrader “blowup” tantrum? some “better man”, LOL. he must have been sick saying that when he knows he’s anything but and his exposed over and over again for being fake with alter id’s. That was sweet how he stumbled all over himselfas JamesII. . Yeah I know he read every word in my posts on… Read more »

I’ve already told you dtchum and toto aren’t me. I told you that you reek of Brooks disease warmly as a fellow victim, you chose to be a Brooks shill as the comments show. I too have been suffering from the Brooks disease for years. Thanks for proving the dogwhistle hate I previously accused you and one other of, there’s nothing disgusting about manning up to what Brooks has done to our hindquarters.

All you’ve proven is your own hate in sneaking in more attacks via your alters liar. You are just a more well faked mannered baboon as Cyn so artfully put it back then, with your latest alter, LOL. Everyone’s whose read your past vitriol that started your crap and losing out to all the arguments in the past knows you have resorted to using multiple alter ideas so you can speak from any side losing complete credibility. Glad you’ve finally come out and reminded everyone how low you are willing to go “smellypete” raging gesticulating from the cave with NOSHOW… Read more »

Pete, Brooks is a parasite and should be ashamed of himself especially after taking the hippocratic oath as a doctor. Personally, I believe this blog could use some vitriol towards the scammers that deserve it. IMHO most of the regular posters aren’t shills especially for Brooks. Anyway, I enjoy reading about your distaste for the man, just as long as you are using that in a constructive manner. No one should be attacked personally on this blog, but if one disagrees then by all means let everyone know.

Yes, we have done vitriol to other review scams when it was called for MikeM and I agree others who had been scammed should join also. Just that all too often my posts were attacked by gollum’s alters because I believe he no longer really cares about b__ks just the spite he has for me from the past as a psycho job. In fact, I was the last of the “wolfpack” to realize his trolling. As anyone can see the others were calling his bs long before me and he tried to stick it to me just because he gained… Read more »

He had a long history of attacking me personally MikeM. Al l I did was respond while he escalated it with more crude insults as I’ve demonstrated with the links. Let not tradingschools history forget. If Pete wants to truly reform then he needs to stop guttysniping in reaction to my posts. No you didn’t “warmly”. it’s you who have been infected with b__Ks disease all this time. Anyone can see back then you picked a fight with me liar in the most disgusting insults from the beginning. And cowardly not mentioning it was Cyn who was the “other”, LOL,… Read more »

“Raschke’s hedge fund has been ranked 17th out of 4,500 for best 5 year performance by BarclaysHedge.” – Wikipedia She´s not doing massive marketing for her seminars, to find some dreaming kids and take their money for scam. And as i know, she wrote only one book and that is over 25 years ago. Please do not start throwing all traders and services of the trading scene into the same bucket.

LOL! The Wikipedia page referencing “Raschke’s hedge fund has been ranked 17th out of 4,500 for best 5-year performance by BarclaysHedge.” just got scrubbed. Laughable.

I have experience with Raschke, and it’s not good. Had an account at WorldCupAdvisor.com, where she is offering an auto trading service for both stock index futures and commodities. Terrible performance. Its on public display.

Ranked 17th out of 4,500 at BarclaysHedge? OK. Show me. Go to BarclaysHedge, sign up for a free account, and search…nothing appears. The problem with Wikipedia, the information is user generated. Although most of the information is very good, I have also found a lot of puffery. Linda is very popular. And I knew I would catch a ton of flak about putting her in the same bucket as Chris Terry. But the facts are the facts, she was partners with Chris Terry at LBR Group, and the live trading room burned many folks. I have her book as well.… Read more »

No. The review was about Chris Terry. But I had to throw in the affiliation with Raschke. She promoted this guy, vouched that he was the ‘real deal’, and the results were disastrous. It is a relevant subject. I knew I would catch flak by mentioning her. She is a longtime guru. After purchasing her book, and then programming the strategies…they were terrible. Just terrible. She had another book: Streetsmarts II. Once again, I programmed all of the strategies, which include: Whip Cream, Soup, Soup and Crackers, ROC/RSI, Changes, Holy Grail, No Fillers, Anti-Stochastic, ADX Gaps. None of these strategies… Read more »

“overall performance looks pretty respectable” lol. he doesn’t even know what he’s looking at. last two years were failing, and didn’t even know the fund was closed at the time his post. There seems to be some controversy hushed up. I wouldn’t be surprised it turned out be some ponzi years later. ask KD? only reason smellypete mentions him is because of my earlier post down this thread. Actually RobB or MikeM would be better to ask. Stick to the retailers not selling a service, sheez.

This link seems like some link to a managed futures website. I do not see anything about Linda fund. How about a link from a reputable independent source such as Barrons who rates hedge funds. I have yet to find any ranking of her fund. It might exits, but I have not seen it.

‘Established in 2004, the Granat Fund generates industry leading profitability and non-correlation through trading more than 20 exchange-based futures markets on a discretionary basis. The program is based upon the swing trading methodology pioneered by “Market Wizard” Linda Raschke and continuously refined by her and a team of portfolio managers and researchers. By focusing on a richly diversified set of markets and trade duration of 1 to 10 days, the fund is able to remain differentiated and nimble relative to sector or trend-following programs. Class A Interests are traded at a 1X leverage level.’

LoL! nothing to say except a quiet little web search with a forced ‘smiley’, plus a few choice words from my posts , no ‘guttysnipe’ this time, lol. It must have been after he saw my posted chart image :p

I go to that BarclayHedge fund site and put in Granat and nothing comes up. It would be nice if someone could actually show a link from a reputable site that showed any of Linda funds were every highly ranked.

The fact that no one yes has been able to show any link of that nature I am starting to get suspicious and think this speaks volume about the truth of Linda’s fund performance.

It seems LBR’s fund was a small futures fund using her strategies which were entirely discretionary based on pattern recognition. That fund was relatively small in size compared to the behemoths that exist today. The returns were positive , but not triple digit returns that many rooms advertise today. I know her strategies didn’t test out well, but she did claim to be entirely discretionary. I know Emmett feels if you can’t code it then it’s useless. I’m sure the change from individual trader to managing every aspect of a fund doesn’t always translate positively. Not only did she have… Read more »

“Man I wish websites would properly vet their speakers before misleading the retail public”

The whole industry is corrupt and feed off each other, if they got rid of the con artist there would be no one left and then they too would be out of business. You think Ninja really vets any of their cesspool educators? There is a reason for that.

I have no idea if this fund was ranked 17th, but it is odd how when I search I can get virtually no information on what was supposedly a top hedge fund. There seems to have been 2 funds a Class A and Class B. Attached is Class A chart. From 2004 to 2012 it average a 9.26% return. Once again showing realistic returns as opposed to the fantasy returns promised by the day TR industry. But I cannot help but wonder if truely a top hedge fund why has it been closed.

Good point RobB, I would rather trust your seasoned appraisal of funds than just another alter id trying to hide their disgusting history doing a web search knowing nothing about lbr. I think Emmett can not be serious giving LBR a pass just because of web search by an alter which actually just shows the retread of the web news that the fund with her name stuck on it somewhere was doing poorly a few years ago that those following her had already heard about. We need the churning of retail newb dupes details of LBR and the hubby sham… Read more »

Those figures don’t mean much Emmett especially from the troll who continues to take potshots at me in other reviews I don’t respond to and has a history of using alters to post fake support for his nonsense. Please don’t be so quick to base a review on average fund performance that bears little evidence of her involvement. We’re looking forward for your in depth digging into her organizational empire ala Sykes like her brokerage, and all the ways they churn income from the retailers.

Far easier to show up on the b__ks event last year and to ask questions on the b__ks thread on feeforum , when the smellypetedeithb__ks didn’t even show up, LOL. complete fake and hypocrite supporting the shills when using alters out of crazed rage.

Actually it’s pretty “easy to be the better man” when compared to the babooned faced wildly gesticulating peteditihb__ks gollum when considering his sordid history of sickening , outrageously disgusting, crazily enraged, demented trollish posting, lol. I can see why MikeM and other relative newcomers may be more generous, but you may have missed those postings including the “*uck you all” blowup where he came back as alters pretending to be someone else until caught, of which he has at least four if not more tying to pretend to be “esteemed” but the b__ks disease still leaks out such as the… Read more »

lol, “better” at sneaking in guttysnipes in every other post yeah right and now using another alter. Have fun with your new spam ad email from your new signup , previously knowing nothing about before today, lol!

Looking forward to a full LBR review. She is a much beloved guru who has gotten a free pass from everyone. This Chris Terry association is damning. Wonder if there is anything else you’ll be able to dig up. Not sure how active she is now on the seminar circuit. I suspect she is semi-retired from it, maybe making a guest speaker appearance once in a while. She seems credible because of the Market Wizard status and her supposed great hedge fund performance. But like you and many others, I also found the stuff she was marketing to be worthless… Read more »

Hm. I thought that I was the only one who had programmed so many of her strategies, and even with the best curve fitting, find it impossible to make a profit in backtest. Now, if a strategy cannot make a profit in backtest, that is the very definition of crap, because the only really useful purpose of backtesting is to see if one MIGHT have made a profit with what is in effect perfect foreknowledge and hindsight.

Omigosh,…I wondered if I should comment as I’m currently worn out from responding to the absurd shilling in the otg comments and recently where a shill probably the sham vendor tried to ludicrously state as fact Awesome Calls as a legit room with no proof. Well, the entertaining thread in otg in the last two days had a lot of contribution, so I may as well relay my thoughts of LBR. Yep, sometimes our journeys intersect as points. Migosh, my first thoughts about retail trading about ten years ago had me looking up the Rashke’s book “Street Smarts” with that… Read more »

You can never just trade a strategy of a crossover with RSI, MACD and so on. Every single trade must be sought after in context to volatility. Those cookie cutter strategies that all those legacy guys teach, Busby, Burns, LBR and God only knows how many more are destined to fail because every situation is different and must be traded with context. IMO, that’s where the rubber meets the road. The more you can think for yourself with managing your risk so you always have a chance to continue will give one fighting chance. After learning the basics, trend versus… Read more »

Yes of course I did not mean to imply simple crossovers with RSI or others of the like could be traded blindly in any market conditions. I thought readers of my post could easily ascertain that point through my slight sarcasm about the relative uselessness of these indicators taken in such a simple context such as Con-ners simple RSI(2) newsletter. As Emmett has mentioned before, it used to be a big deal with the old software platforms starting to display and calculate the simplest of indicators where many legacy shams tried to sell their own brand of those indicators as… Read more »

“Every single trade must be sought after in context to volatility.” You are going to make me bring up another one of my Holy Grails (and my HGs have nothing to do with setups). Nothing can be arbitrary!! You must trade the market structure. It took me awhile to really accept this one. I remember being in trading rooms where every trade ever day every market condition it was the same 4 tick SL 8 tick gain or something along those lines. How could every market condition have the same trade parameters? And why do these TR teach this nonsense,… Read more »

It took me several years of donating to scammers before i finally found a good mentor. Regarding trade rooms i’m reminded of the old adage: “A fool & his money love to part ways” – and god knows i’ve parted with my money one-too many times. A few might disagree with me but from my experience Day trading is possible…however, (major emphasis on the ‘however’) there are so many variables involved that at ‘best’ you can only make money some of the time. For example, i haven’t day traded in over 4 months since volatility has been at historic lows,… Read more »

Day trading the way these notorious sham shows teach just doesn’t work. How could a TR exist if they traded 3 times a week when volatility conditions are met? Analyzing the markets to wait for the correct conditions is very boring especially the last couple of months. We are in a raging bull market, but volatility until just the last couple of weeks has been non existent. Most intraday trend trades would’ve chopped you up to pieces. You could have played some very tight ranges, but I don’t know many traders that can do that profitably over time. Now we… Read more »

Simon, I guess because of the complete nonsense the TR teach what you describe I do not think of as day trading. So when I say Day Trading I think of what most TR teach: 1) You can trade a highly leverage highly volatile instrument such as CL, 2) You can do this with some small account like $5,000, 3) You will have an 80% win rate, 4) You will have virtually no drawdown, 5) You can come in everyday rain or shine no matter what the market condition and take numerous scalps in CL every single day, 6) You… Read more »

Your post takes away the whole premise of a trading room and why they don’t work. As soon as you believe to have the market in your cross hairs the market structure will be altered in some way. That is on the intra day time frames. The bull market is years old, but the daily price structure is changing so rapidly now. Those arbitrary price points will bleed you dry.

You are right on the money. What works one day, week or month does not work the next day, week or month. I was in one TR (in my mindless days) that was profitable for 3 months and thought finally found a TR that new what it was doing and then wam bam the market changed and they lost everything back they made and then some. That is why I say 1 month of or even 3 months track record is statistically meaningless. I knew one person that traded open ranging BO it worked perfectly until it did not work.… Read more »

I’d agree the market changes conditions to throw off any rigid set system not prepared for changing context or otherwise the trader should have an alternate plan to trade the different type of current market condition or the other touted adage of trading advice commonly worded in sham authors’ books to “stay out of he market when conditions don’t fit the plan”. Exactly, that’s why I don’t think those topstep combine wormshells should be trusted either as they seem designed to capture temporary streaks of a luck of a tradingplan more than anything else. I hadn’t been keeping up to… Read more »

covered 43.75 took 76 ticks (the sim) on 1 contract little over 10 ticks of “heat”for a cool $760. imagine 3 contracts! the trade was realtime not after the fact. in the combine i’d be well on my way. after paycheck this friday i’ll have enough to sign meanwhile i’ll continue to practice on the ninjasim.

I hate to throw salt on the wound but that 45.20 trade is not going so well as CL is now 45.76 and I doubt in real life you could take that pain. So far your batting average for day trading is not looking to good.

Good luck Francis. At the very least, you should create a plan for your time with TST. Just like a trade, plan out beforehand how much money you intend to risk with them and how much time you are willing to waste with them.

Rob you should be a therapist. When someone tells you about their problems you can tell them to wake up. Get off the bed and lose the weight if that’s their problem. Unfortunately you are absolutely correct. TST is playing the perfect con game with their support from pre selected vendors. They are after those combine fees and risk absolutely not 1 dime of their money. Just like a young kid that is great in baseball and believes they are going pro one day. That dream definitely is a reality for a small percentage, but they can monitor their performance… Read more »

I agree MikeM, RobB when he is helping others to wake up from the kool-aid is the best there is on these comments. Thee has been a great many classic advice posts by RobB among those over a year ago outlining steps to figure out the shams. I can see a lot of the sham tricks from experience myself, but RobB can display it in a guided learning way that can make great headways for recovery for those still intoxicated by the shilled kool-aid. Too bad many of those helpful essays are lost in the cluttered pages of comments past.… Read more »

Hey Mike said I need to be nicer. Even when I am 99% sure someone is a shill I will nice to some extent depending on what one post. I agree I am not sure TST will even allow Francis to trade the way his is trading.

Rob I never said be nicer. You keep saying that. I have been a proponent of the way you come with the cold hard truth of trading. I can not argue against your facts when the numbers are true. The only response close to being nicer I posted is that it is better when everyone posts their thoughts. Although they may not have the information correct at first, it is still better to have an honest discussion without personal attacks none of which you seem to participate in. If you don’t agree then by all means make it known. I… Read more »

Yes I wish it would be easier to read posts for a particular guest. Rob does seem to have his facts right. I can’t remember when I disagreed with his comments. Unfortunately, until recently I still held fantasy numbers in my head a s a possibility. It’s hard to break from the hang over. Why do you think time and time again frauds are successfully committed.

Apparently not! I look at the TST rules and they just scream scam. Why in the hell would traders be charged continuous monthly fees to trade a sim account, except if it is as scam. If I cannot convince someone that is a scam then I clearly would not be a good therapist.

@Francis – you said “risk about 500 to get my hands on 4500 – no brainer” OK, let’s look at this as a trade. For that to be a “winning trade,” you have to have more than a 10% chance of winning. If you look at the results of combines of others, you will see that the odds of passing combine, passing FTP, getting funded and then making that much money – in other words, winning the “trade” – are exceedingly small. Probably less than 1% chance of success. THAT MEANS THIS IS A BAD TRADE, and the numbers say… Read more »

I understand what all you guys are saying and it all makes sense. However, hear me out. I have an aversion to risk because like what you guys say that’s true I’m underfunded. I know this, and I appreciate and have learned a lot here. I’m scared to death trading my own account with real money. Trading on the sim is easier for me and thats not surprising lol. It frees me up to carry out trades that I would make if I was a millionaire trading a handful of contracts for fun without worry of the outcome, win or… Read more »

Hey Francis good luck going forward. I get what you are saying. Just try to have a plan for how you will proceed and be rational about what you are going to embark on. Learn to manage the risk that is available to you.

If you want to give trading advice to a shill, drchump aka Pete, then stop using an unoriginal mockery of my id for starters. It only reeks of petedetith spite especially if the moniker was made by tradingfratboy months ago and now only shows up when you reply as Pete and is too ridiculously obvious trying to differentiate drchump as some non-shill. Give the advice as yourself. I’m not going to even bother responding to the “advice” itself. I don’t care even if it just rips off what others have posted already about TST at this point.

Lol, what an insane lie gollumpeet. The b__ks disease must be overwhelming in its resurgence. “drchump” only came into existence because of the moniker ‘dtchurn’ back in tradingfratboy’s review. If you are referring to “Pete” before “dtchurn” you just outed yourself again as collumpeet, LOL. which while true only shows readers who care to look back that he was trolling a cessmess called out by others before I was even aware of it, lol.

That’s funny. I like the name, appropriate for this blog. What will you do if it takes longer than expected? I know you are confident, but nothing is guaranteed. That is why I keep saying make a plan for your time with TST. I know you think you are different, but there are many that have been on the wheel for years thinking next month will be the right time. You are obviously going for it which is fine just plan your time with them. Report back here win lose or draw so others interested can make an educated decision.

This is a perfect example why your trade calls are meaningless. Right now CL is 44.85, but you can in hindsight come back and say you covered at any price with zero proof. By the way Tom posted the exact same thing I have been saying about TST.

What’s going to happen now “9k a week’ shill? Are you going to “scratch” like clothespin voiced topsimdog Burns? If it was a live account, are you going to hold it past the close to incur a margin call on a 1k account? Good riddance. Chalk up another same actored shill tag-team dispatched, R0bB

These type of post are silly. What is the point?? Even if you gave a SL and profit target they still could not be verified, but without even providing that information your post are completely meaningless and should not even be in this thread. Why not start a journal at BMT and post this kind of silliness.

What nonsense. Just as in the SalaryTradeRoom, we went long /ES at 2420. Wait till the end of the session and we shall tell you where we got out. See? I told you that we are grandmasters at hindsight trading in the SalaryTradeRoom. You can take away your nonsense hindsight trading. Bullshit. We told you how to report your funny trades, and yet you continue to do your nonsensical bullshit. Truth to tell, even those theoretical trades mean diddly. There is only one way to prove that trades were taken. A brokerage statement. Yes, even the statement from scam TST,… Read more »

Exactly what nonsense. So a 10 day combine where it takes 5 to 8 hours to see how a trade turns out. And what was the trade based on, a 4 hour or daily bar chart? Plus the best time to trade was 7 hour ago when the volume was there with the big money making their moves on the market, not at near noon time on the lunch hour when volume has dried up. Or was there a bunch of loser flubbed sim trades before this latest call, which is typically not reported , predictable of shamshows, hmm?? Truth… Read more »

So you held CL throughout the night. I have a feeling no matter what CL did you would be claiming victory. Look if you are able to do what you claim then you should be able to take that $1000 you say you have saved open an account and already made a Cool $760 and actually be able to show a verified brokerage statement showing proof of your claims. But instead you are posting silly hindsight trading calls. Do you seriously believe anyone is taking your word on it? I will give you some credit though at least you are… Read more »

Indeed. In heat for close to 5 hours, and not in real profit until after close to 8 hours practically an entire session. The entry looks shaky on anything less than a 4 hour chart, unless the 10-20 tick scalp was taken in the first 30 minutes after the entry. Not to mention if the 5 hours holding in heat was over the session close, then there would likely be a margin call for most brokers on the CL contract of a 1k account size. Yep, exactly RobB, if the market continued to go higher he could have just said… Read more »

Dang, the shill just made another ‘call’ at 44.56!? intentionally looking like the 44.51 entry post made yesterday. No wonder I couldn’t believe it said 44.56 and thought it was my imagination. So it was up to 16 ticks in heat, not 10 ticks after all. Dang these shills are so relentless and sneaky with their smokescreen! That’s what you get folks with all this blurry fudgy smoke where 16 ticks is somehow magically only 10 ticks in heat and 4 hour or daily price bars is somehow a day trading strategy to squeeze into a 10 day TST combover… Read more »

That’s the thing, even assuming he entered where he did, which I doubt he did, he took at least 16 tick heat. And he said he could go 3 cars. Sounds easy in sim when real money is on the line, but when you are down $480 dollars in real life not so easy to hold on. That is the difference in making nonsense trading calls like he is doing and trading a real account.

You’re an asshat .. Those combines are worthless pieces of garbage. Do yourself a favor, take $500, open a futures account and trade 1 contract of NQ for a month and use the same rules as the dopey combine. In the end you’ll end up spending less money , not have any crazy Exchange fees, and keep 100% of what you gain if you’re successful. And dont give any excuses that you cant trade the NQ. If you can trade 1 contract of that sucessfully with that little amount of money, you are on your way to being a successful… Read more »

The problem is making generic trade calls is easy, but trading a real life account with real stop losses and real target is something else. My guess is if you made the trade you claimed you probably when have been stopped out by the heat. But only a real account will tell the truth. So start that TST combo and post the TST results regularly.

The time stamp here is not accurate enough for anything. I am showing 56 minutes ago CL did not even trade at 44.51. But it has been a long time since I brought up a CL chart. So unless you just like to read your own post this is meaningless. You would have to post a picture of CL prior to the trade and it be posted here before the entry point so it can be verified along with a stop loss and profit target. Attached is CL where you claim to have traded it as best I can tell… Read more »

I think I saw where he entered RobB,. now the post says 2 hours and 15 minutes ago. I did check at 56 min ago earlier and 44.51 nicked the vwap. so if he got out at 44.40 all well and good for a scalp. But now it’s retraced back above 44.50 and trying to the opening high. Very low volume of course until a few choice minutes by the movers. Very hard to trade unless you’re a scalper with “Chuck Norris” skill. Not saying this legitimizes anything. It’s usually the shills who would post trades, charts, spreadsheets claiming to… Read more »

All I know is CL is right now at 44.60 and calls like this are meaningless. He can claim victory no matter what. In fact his entry could be called after it drops down. I hope this is not what he plans to post.

Ok, I found that my browser doesn’t update this page’s “timestamps” all the time and erased the local cache before reloading this page. So now I’ve got caps of both the post and my platforms CL data at the same time. As you can see it’s within the range from 5 hours before the data end. I’m not legitimizing the shill in any way, just showing a 10 tick scalp was possible, or if the trade was on a higher time frame, then tough luck, in any case hardly a single example to be hyped about.

I don’t think the time stamps here are accurate enough to verify anything on a high volatile instrument like CL. Plus I am not aware Francis ever called an exit. Which is the problem, he can claim he exited anywhere. So if he shorts and explodes up he says well got out with a 2 tick loss when I saw it was not moving down. And if it drop like a rock and then rebounds, he can say he got out of the bottom. That is why these type of hindsight calls are meaningless. If he is expecting me to… Read more »

I hear you RobB and completely agree a shill could say they could have exited anywhere or any time. I was just sure I saw where he could have entered when he posted when I saw his post pretty soon which seemed to be a reaction post to one of my previous posts, so I actually checked and saw where he entered about 30 minutes after he posted his calls and before you remarked about it. So my chart post was actually more for myself because I was so sure I saw where he entered (near the vwap at the… Read more »

This is the kind of crap I expected. Meaningless trade calls in every thread. Unless you post a trade entry before you make it and give a stop loss and a profit target it is meaningless and just confirms my opinion you are shill or something worse.

Familiar with Linda but know nothing about her hedge fund. Maybe she wrote that entry. I tried searching BarclaysHedge.com by her name and by LBRGroup as shown below and nothing came up. Here is the top 100 in 2017 and no Linda there or maybe I missed it. http://www.institutionalinvestorsalpha.com/profile/3287866/4689/hedge-fund-100-firm-profiles.htm I also checked Barrons and did not see it. Can you point out which one is her fund or provide a link by a reputable place that ranks hedge funds where her fund is coming up in the top 20. Again she may well be number 17 I just cannot find… Read more »

“Since then, she has been the principle trader for several funds and started her own hedge fund in 2002 for which she was the CPO (Commodity Pool Operator). Linda’s hedge fund was ranked 17th out of 4500 for best 5 year performance by BarclaysHedge and her early successes were recognized by Jack Schwager in his renowned Market Wizards series. Linda retired as a CPO and CTA in 2015.”

I’d heard about the fund failing over a year ago. There’s probably more to it when the shtf among the pebble beached rich floridians investors. No duh, when smellypetedetithb__ks looked up the fund because he had nothing else to post about, it showed it failing in 2014 and going , gone in 2015. My post linking to her active shilling in the ecuadorian beachforum among others’ anecdotes instead of just looking up knowing nothing about lbr previously, is far more relevant to the retail industry since it was after having ditched the fund, lbr group tried to make headway into… Read more »

I can’t find any information related to her fund with a reputable source. As far as making money, she started in the pit, correct me if I’m wrong, many years ago when you had a repeatable edge where a lot of people made money and lots of it. I think she most likely made money for a while to get portrayed in Market Wizards. I just seem to struggle with an all start trader with talents to consistently take money out of the market then decide to work with retail. A successful trader or money manager is usually so busy… Read more »

Thanks for the info MikeM. I’d agree from what you’ve relayed about busy funds you’ve seen why would they even bother to teach or rum a sim show room. I would assume they are working hard to keep their fund operational and for earning their management fees studying the market, researching companies and stocks all the time etc. I never worked in wall st. on in financials, just basing what i’ve seen in documentarys like “wall st. warriors” , and anecdotes from former claimed pit traders on the beachforum and elite as forum members not retail vendors. In contrast Levin… Read more »

Before others think otherwise, I was actually in attendance at the lbr hubby’s sham webinar out of curiosity on the beachforum where it was rumored on the web the fund had closed, all before I discovered tradingschools, unlike gollum cowardly hiding in his hole during the b__ks event on beachforum last year during the b__ks review. LOL.

I looked at both Barclayshedge and Barrons and did not see her fund. Maybe it was under another name. If you have a link from a reputable rating source I would be curious. I assume she must have made money (but maybe not) some point in time to have gotten so well known and in the Market Wizard book. If she never made a dime then I have to recant a statement I said and that was Ross was the greatest promoter, because if she never made any money she get the crown.

Maybe trading the fund and the trading room was too much over time and so the unfortunate connection (in hindsight) with Chris Terry came about. It’s a pity Emmett didn’t just contact her and ask about it.

Maybe, but count me suspicious. I just know how the world of investing works. If you had the 17th best performing hedge fund you would have so many investors pouring money in and you would not be some person going around doing day trading webinars and certainly not be closing your hedge fund. And when I search for that amazing hedge fund I would find lots articles instead of virtually nothing. The whole things smells fishy to me. Others can do their own research and come to their own conclusions.

Exactly RobB. the fund looks small at less than 50 mill. And it looks like it’s a private group. Perhaps it was ponzi-like. very few trades and more funding came in like Karen the supertrader boasted her fund went up from 20 mil to over 150 mil. So when the investors demanded more returns and more trades, it bellied up quick and had to be closed. Btw, Remember folks, “smileypete” and “Pete” & “drchump” are the same. Don’t be confused later.